How to generate or prepare a short year return in Lacerte

1. Go to Screen 3, Miscellaneous Information.
2. Scroll down to the Tax Year Information subsection.
3. Select the box Short tax year for depreciation (if applicable).
4. Enter the Beginning fiscal year [O] (M/D/YYYY).
5. Enter the Ending fiscal year [O] (M/D/YYYY).
6. Enter the number of months in Number of months, if short tax year.
7. Select Print "Short Year 20XX" (if applicable).
   • Select this box if the partnership has less than 12 months that began and ended in the next tax year (for example, if you are preparing a short year 2019 return in 2020 Lacerte).

1. Go to Screen 4.1, Miscellaneous Information.
2. Select the box Short tax year for depreciation (if applicable).
3. Enter the Beginning fiscal year [O] (M/D/YYYY).
4. Enter the Ending fiscal year [O] (M/D/YYYY).
5. Enter the number of months in Number of months, if short tax year (for annualization).

For returns other than initial or final returns, Lacerte uses this entry to annualize taxable income and AMTI and then prorates regular tax on Form 1120 and the tentative minimum tax on Form 4626.

The entry in this field isn't used for short-year depreciation purposes, as this is done automatically based upon entries in 1 if short tax year for depreciation (Screen 4, code 74), Beginning fiscal year [O] (Screen 4, code 1), and Ending fiscal year [O] (Screen 4, code 2).

1. Go to Screen 3.1, Miscellaneous Information.
2. Locate the Short Tax Year Information subsection.
3. Select the box Short tax year for depreciation (if applicable).
4. Enter the Beginning fiscal year [O] (M/D/YYYY).
5. Enter the Ending fiscal year [O] (M/D/YYYY).
6. Enter the number of months in Number of months if short tax year(for annualization).
   • Leave this blank if it's the S-corporation's initial or final return. For returns other than initial or final returns, Lacerte uses this entry to annualize state taxable income and then prorates estimated tax on the state tax return. The entry in this field isn't used for short-year depreciation purposes.

1. Go to Screen 2.1, Miscellaneous Information.
2. Select the box Short tax year for depreciation (if applicable).
3. Enter the Beginning fiscal year date [O] (M/D/YYYY).
4. Enter the Ending fiscal year date [O] (M/D/YYYY).
5. Enter the number of months in Number of months (negative to annualize).

Marking the return for a Short Year:

1. Screen 4.1, Misc. (990-N, 990, 990-PF, 990-T).
2. Scroll down to the Tax Year Information subsection.
3. Select the box Short tax year for depreciation (if applicable).
4. Enter the Beginning fiscal year date [O] (M/D/YYYY).
5. Enter the Ending fiscal year date [O] (M/D/YYYY).
6. Enter the number of months in Number of months if short year (for annualization).

E-filing the short year return:

1. Make a copy of the original return after it's been e-filed, and accepted.
2. In the newly copied return, clear the e-file Status;
   • From the E-File menu, select e-file Support Tools then Clear Return then Return.
3. In Screen 4.1, Miscellaneous, mark the checkbox for File 20YY short year return and enter the applicable Beginning fiscal year date [O] and Ending fiscal year date [O]
4. On Screen 1 make sure there are no states in the left column.
   • Delete any states listed here.
5. Review the return for accuracy.
6. Transmit the copied return.

1. Go to Screen 3, Miscellaneous.
2. Locate the General Information section.
3. Enter the Beginning fiscal year [O] (M/D/YYYY).
4. Enter the Ending fiscal year [O] (M/D/YYYY).
5. Enter the number of months in Number of months if short plan year.